Calculate net cash-out, new monthly payment, and remaining equity from a cash-out refinance. Compare base case vs higher appraisal scenario.
📍 Property Address (optional)
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InputsYour Numbers
Current Property
Current Property Value?
$
Current Loan Balance?
$
Current Monthly Payment?
$
New Loan Terms
New LTV %?
%
New Interest Rate %?
%
New Loan Term (years)?
Closing Costs ($)?
$
Pro Forma (Higher Appraisal Scenario)
Pro Forma Property Value?
$
Pro Forma LTV %?
%
As-Is AnalysisCurrent
Enter values to see results
Cash-Out Amount
--
net after closing
New Monthly Pmt
--
P&I on new loan
Payment Change
--
vs current payment
New Loan Amount
--
value x LTV
Cash-Out Calculation
Property Value--
Max Loan (LTV x Value)--
Current Loan Balance--
Closing Costs--
Net Cash-Out--
Payment Comparison
Current Payment--
New Payment--
Payment Increase--
Remaining Equity--
New LTV Ratio--
Pro FormaAfter Plan
Enter pro forma values
Pro Forma Cash-Out
--
vs base
Additional Cash
--
from higher appraisal
New Equity
--
remaining after refi
Pro Forma LTV
--
at higher value
Higher Appraisal Scenario
Base Value--
Pro Forma Value--
Additional Equity Unlocked--
Pro Forma Net Cash-Out--
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1
Enter Current Property Info
Current value, existing balance, and current payment. The calculator shows exactly how much equity you can access.
2
Set the New LTV
Most investment property lenders cap cash-out refi at 70-75% LTV. Some offer 80% for strong borrowers. Higher LTV = more cash out but less remaining equity.
3
Enter the New Rate
If the new rate is higher than your existing rate, the calculator shows how much your payment increases. Model whether the cash-out benefit justifies the payment jump.
4
Factor in Closing Costs
Refi closing costs (1.5-3% of new loan) reduce your net cash-out. A $262K new loan at 2% closing costs = $5,250 less cash in hand.
5
Check the Payment Change
Cash-out refi typically increases your payment because you are borrowing more. Make sure the property's rental income still covers the new PITI.
6
Model Higher Appraisal
If you improve the property first, it may appraise higher. The pro forma column shows how much additional equity you unlock with a higher appraisal.
A cash-out refinance replaces your existing mortgage with a larger one, letting you pull out accumulated equity as cash. Real estate investors use this to fund new acquisitions, rehab projects, or business needs without selling the property.
The key formula: Net Cash-Out = (Property Value x LTV%) - Existing Balance - Closing Costs. The money is tax-free because it is debt, not income -- though it does increase your monthly payment.
Key considerations: Investment property cash-out refi typically maxes out at 70-75% LTV. Your new rate will be at current market rates, which may be higher than your existing rate. Make sure the property still cash flows after the higher payment.